In business, there are several types of business objectives to aim for. Some of these objectives can be social others are operational. Then there are organic objectives. While many have heard of operational and social objectives, the concept of organic objectives may be new to you.
In the simplest terms, they are overarching goals that take all aspects of a company into consideration. That means outlook and progress are always at their forefront. Remember, a business organization is nothing more than an enterprise that is organized under leadership that is formed to meet specific needs of society. Let us explore each of these facets in depth.
Survival
The goals of every company are completely moot if it isn’t able to sustain its survival. In order to stay afloat, a healthy business needs to be run is such a capacity that it earns competitive revenues to meet operating expenses. All while turning a profit.
That is why a good example of an organic objective would be to create demand for products and services as long as they are profitable. If your business continues to lose money year after year, it will not continue to survive.
It helps to think of an organization like a living organism to understand. Animals pass through a variety of life stages as they continue to grow. They start as infants, then enter childhood, adolescence, and finally reach adulthood. Businesses do this in quite the same manner throughout their existence as an entity.
Growth
Businesses grow through the passage of time. They also grow by utilizing the resources at their disposal to maximize profits. From there, they often use that cash to further expand and diversify. If they are not profitable, they will be forced to remain stagnant, and this means they will not fair well against the backdrop of the ever-changing political, social, and economic environment. That is why one of the most organic business objectives is planning for proper growth. These goals put policies and plans into action that will facilitate maximum growth opportunities.
All businesses must aim for some type of growth within its operation. That could mean many things, including increases in market share, earning capacity, investments, and most importantly, sales. This growth will lead to greater economic power and a better reputation for the company.
Reputation
All companies must also strive to keep a pristine brand image for public consumption, as well as for the eyes of the government, investors, and other businesses. Having good standing and prestige can sometimes be more important than any of factor of being business. Having a sterling reputation will allow you to more easily raise capital and sell products and services to a public that trusts and believes in you.
That said, many organizations only try to gain greater prestige if the idea makes economic sense for them . Also, if it further contributes to their established social goals. That is not the best approach, since companies can also gain recognition from the organizations with which they are already associated.
For example, having a respectful relationship with dealers, suppliers, and end customers is crucial. They can accomplish this by paying their suppliers and supplying their dealers in a timely manner. They can also sell affordable, high-quality products to consumers. Demonstrating these acts of goodwill over an extended period of time will earn businesses superior public images that will thrive.
Read: 4 Main Types of Business Objectives Explained
Formulating Organic Business Objectives
The formulation of organic business objectives today can be a complicated process. That is because you must take the values, mission, and vision of the business and align all of these with its long term goals for sustainability. You will need to conduct an audit of the company’s social and environmental impact. Involve its stakeholders so you can understand their points of view and ongoing concerns. Goals should be measurable and integrated into the current business strategy in a seamless manner.
Implementing Organic Business Objectives
You will need to develop a comprehensive strategy in order to implement organic business objectives into specific aspects of your company. Here are just a few suggestions on how you can do that wisely.
Measure your Progress
Using key performance indicators (KPIs) you can keep track of your business’s progress towards its projected organic business objectives. Of course, this means that all reporting must be transparent accounts of all challenges, as well as achievements. This honesty will lead to enhanced credibility and accountability.
Manage of your Supply Chain
Managing your supply chain means working with suppliers that share your values as a business. For example, those that are committed to sustainable practices. This will ensure that everyone in your supply chain adheres to the same ethical standards and ecological considerations. If waste reduction is important to you, then you should be on the same page as far as waste reduction goes. This also goes for sourcing and the proliferation of fair labor.
Commit to Leadership
The importance of competent leadership cannot be overstated when it comes to meeting all of the organic business objectives that you set. You need to employ management that leads by example. They will also need to commit to these goals wholeheartedly, in theory and practice. Your leadership should encourage employees to do the same.
Engage Stakeholders
Whether you are talking about investors, customers, employees, or the surrounding community members, it is pertinent to keep stakeholders abreast of everything going on. That means whether the information is positive or negative. Transparency breeds trust from those that matter most.
Because of this, you should encourage communication and feedback in any way possible. This is so you can address any questions or concerns in a timely fashion. This means everyone will be on the same page with regard to expectations.
Innovate as Needed
By embracing technological advancement, you can achieve your organic business objectives quicker and more efficiently. Incorporating the latest technology will allow you to better compete with similar businesses, as well as complete complex tasks in a faster more efficient manner. This will save you both time and money.
Read: Social Objectives of a Business: What They Are and Why They’re Important
How Organic Business Objectives Impact your Company
There are so many ways that organic business objectives can impact your organization, as well as the world around it. Here are just some of the manners in which the results of these goals leave their mark:
- Financial Aspects:From increasing profits, to raising capital, to cost savings, investing heavily in organic business objectives will certainly improve your company’s balance sheet.
- Social Responsibility:Caring about your community, hiring a diverse workforce, and paying your employees fair wages for their labor shows that your business is in step with the times.
- Employee Retention:When you focus on your company’s organic business objectives, you are letting people know that you are a well-organized business. That means you will easily attract top talent and retain it, since workers appreciate being associated with companies that align with their values.
- Sustaining the Environment:When your organization adopts organic business objectives with regard to reducing its ecological footprint, you can be sure that you will mitigate pollution and waste generation, as well as conserve resources.
Here are some of the most common examples of simple organic business objectives:
Using Growth Models
It is best to use a growth model so you can get the correct metrics for tracking and setting up proper goals. You can incorporate these stats into a spreadsheet so you can make quick adjustments as needed and you can concentrate up areas that will lead to exponential growth.
Growing Production to Meet Up with Demand
Attracting and keeping your customer base is one of the most important organic business objectives that you can have. The easiest way to do this is to have a plentiful supply of services and products always available to meet the consumers’ demand. This will make it unlikely that your clients will search for other options, like competing companies. Just hire more people during your busiest seasons or outsource work if necessary.
Improving Brand Reputation
When you have and sustain a positive brand reputation, you can be sure that you will instill confidence in your products and services in each customer you serve. That will lead to an increase in sales that drive the growth of your bottom line.
Conclusion
The objectives set by your business will guide and direct its path. All fo the different types of objectives work together to propel your business’s mission forward.
Also Read:
Understanding the Difference Between Business Objectives vs Marketing Objectives
Operational Objectives: What They Are and Why They’re Important
Human Objectives: Definitions, Examples, and How to Implement Them
